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Article · Journal of Financial Services Marketing · May 31, 2021

Implications of the COVID-19 pandemic on market orientation in retail banking

Hannele Haapio, Joel Mero, Heikki Karjaluoto, Aijaz Ahmed Shaikh

Dr. Aijaz A. Shaikh
Open via DOIPDF

Abstract

Abstract This qualitative study examines the implications of the COVID-19 pandemic on the implementation of market orientation (MO) in the context of retail banking. The findings show that MO was significantly reflected in the behaviors of banks upon encountering the COVID-19 situation, with the banks increasing their MO in response to the crisis. This study finds subcategories based on the empirical data that explain the implementation of MO in more detail. Overall, the findings provide valuable conceptual and managerial insights into the modus operandi of banks during a crisis and offer new best practices for the banking industry.

Marketing and Advertising StrategiesInnovation and Knowledge ManagementBanking Sector Performance and ManagementCOVID-19 pandemicmarket orientationretail banking

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